The COVID-19 Challenge to European Financial Markets
Lessons from Italy
The COVID-19 pandemic has sickened more than 10 million people around the world and killed at least 500,000. In this chapter, we focus on the experience of Italy, which is the first country hit by the virus in Europe. While the lockdown measures appear to have successfully contained the virus, the economic consequences have been very severe. Policy makers should study the Italian experience to evaluate the cost-benefit effectiveness of different policies in containing the pandemic.